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Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying
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To: astyanax who wrote (554)3/26/1999 10:04:00 AM
From: Marconi   of 1305
 
Hello Netconductor:
That 3-4 'P/E' is based on unrealized gains in COOL. Their other operations are very marginal. Now if WCAP could regularly make business at realizing gains in a continued stream of deals, then P/E would be more comparable to the conventional concept of P/E. I think it was Mr. Tom Hua (I hope I recall the spelling--apologies if I failed) that noted the COOL position of WCAP was recognized for the books only after the lockup period and then was also discounted by 30% or so from market but the convention characteristic of closed end funds (that liquidating the position as a significant holder --around 5-6% for WCAP I think--could depress the stock price, hence the discount). I hope that helps perspectives. WCAP is more like a publicly traded VC account. The wonderment to me is how WCAP is able to get in on those dealings. It strikes me as very unusual, almost strangeness, which could be likeable if it continues, but confuses me for the time being. Who are these guys???
Best regards,
m
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